What happens if you invest $1,000 into Crypto and leave it for 1 year?
What happens when you invest $100 into 10 different altcoins ($1,000) and don't touch it for 365 days?
Firstly, I'd like to thank @furion for his recent post discussing crypto analysis and backtesting. His post got me thinking about this. However instead of backtesting, let's "future" test.
Getting Started:
There are +700 different cryptocurrencies and new ones being added everyday. Since the goal of this challenge is maximum portfolio growth, most of the coins chosen have a low dollar value as they will have the greatest potential for greater percentage growth. Also intermixed within the coins are many which I believe have high intrinsic long-term value.
Sure Bitcoin and Ethereum are excellent choices and most certainly will grow well over the next 365 days - but for maximum growth I'll be focusing on the low dollar value coins which have the highest percentage of growth.
Portfolio:
Using Cryptocompare I have created a portfolio that we can track for the next 365 days.
Setup:
- $1000 investment value
- 10 AltCoins (@$100 each)
- Can't change portfolio for 365 days
Here is what my portfolio looks like:
Disclaimer
This is not investing advice. These are my personal altcoin choices based on these rules. I'm curious as I am sure many of you are as well...What happens if you invest $1000 in crypto and leave it for a year?
Check back in 365 days...
No, but seriously - I'll be providing occasional updates throughout the year. If others are interested, please feel free to join in. I'd love to hear your thoughts and choices.
Am I missing some of your top picks? What would you choose?
Excellent experiment especially now wen all the prices are crazy inflated it will be a strong message if you can pull through positive. I'll be following you and your experiment.
Thanks - I'm very curious as well. If anything, it's a good thought experiment and hopefully there will be some learning that come from it.
It's guaranteed to have increased in value, some by way more than you can imagine. That's the thing about cryptocurrencies: they are always going up in value, over time that is. Even of some don't perform very well, there are others that will perform enough for all of your picks.
Guaranteed to increase in value? It's a nice thought. I guess the question is - by how much? We will all find out in due time :)
Am I missing some of your top picks? What would you choose?:
VRC, SYS, POT, LBC
POT and LBC are certainly some of my top picks - but with room for only 10, it was a tough choice. VRC hasn't come up on my radar. SYS looks very promising! Thanks for the feedback :)
Hopefully Digibyte will make you rich, because then I'll be rich also ;) Haha. Interested to know how this turns out. Hopefully well. I've personally been thinking about investing in the top 30 coins and leaving them, thereby making sort of an index fund of my own. But I'm scared of many of the coins that suddenly bounce to that list, because they might suddenly drop dead also.